Other Insurance

Official statistics maintained by the Land Registry show that the average house price in the UK (as of March 2018) is £224,144. That figure represents an increase of some 4.2% compared to the previous year – indicating that an investment in property is likely to yield at least as good a return as any savings account and many other forms of investment.

Having made that investment, you also need a way of protecting and safeguarding its value against the many threats of loss or damage it might face – from events such as fire, earthquakes, explosions, storm damage, flooding, impacts (by vehicles or from falling trees and branches), vandalism and theft.

So, let’s take a closer look at what that property insurance entails.

Property insurance for the homeowner

Your home is likely to be one of the most expensive items you buy in your life.

Home insurance offers a way of protecting your investment not only in the building itself, but also (if required) in all the contents which you are likely to have built up over the years – and which may prove very expensive to repair or replace if any are lost, stolen or damaged. [Read more…] about Guide to Property Insurance

They may seem like an excellent addition to your family household, but puppies, kittens, and any other small fury animals don’t stay small for long. One minute they’re eating out of your hand, the next they’re chewing on the sofa, pooing on the carpet, and destroying the garden. Subject to popular belief, many home insurance policies don’t cover damage to your property by animals, so instead of trying to uncover your policy from the mountain of paperwork in your kitchen, why not make steps to try and prevent damage instead.

Pets can cause all sorts of damages to a home, especially if your dog looks anything like Beethoven. From tearing down curtains to scratched leather, slobbery shoes to urine floors, even the smallest pet can cause a large amount of damage. Although there are some great pet training academies all over the UK, some can be extremely expensive, so in order to save your wallet as well as your home, here are a few ideas to keep your pet’s destructive nature to a minimum.

Extra Insurance For Your Home

No matter how lovable your pets are, your home should always come first, and this means finding the right type of insurance that will offer cover from damage caused by animals. Although many insurance policies offer additional extras when it comes to covering pets, medical expenses for example, many don’t include extras to cover damage to your home that’s caused by animals.

In this case, you should be looking for a stand-alone policy that’s separate to your home insurance. When it comes to protecting your home, vigilance is the best insurance policy you can have. Keeping an eye on your pets at all times, as well as coving any expensive furniture with protective sheets is a great way to keep your house in shape, and it will also do wonders for your finances too!

Extra Insurance For Your Pets

You may not be able to cover your home for any damages from your pets, but you can ensure that your pets aren’t hurt in the process of destroying your home! There are many different types of pet insurance, and buying a policy is relatively easy – basically the same process as buying car or contents insurance. As well as having the financial peace of mind that your wallet isn’t going to take a battering, you’ll also be safe in the knowledge that your pets will be cared for no matter what the injury. Some policies even entitle you to rebates for any tips to the vet, and can also pay you a sum when your pet dies.

What Happens if a Friend’s Pet Wrecks My Home?

Although accidents like this do tend to happen, it’s highly unlikely that you’ll be able to claim on their insurance, let along your own. The best thing to do is take up the situation with the pet’s owner, whether they’re a friend or family. If things still aren’t settled, then the only other option you have is to take the pet’s owner to court.

PPI (payment protection insurance) is a financial product of the insurance to that is designed to protect individuals in the event that you cannot make a payment for some unforeseen reason in the future, it is a protective insurance arrangement that is designed to provide peace of mind for people that wish to protect their payments from any future issues.

The way this works in practice is if an individual defaults on a payment, then the insurer will make this payment on their behalf because the customer has paid into an insurance policy previously, this is known as payment protection insurance and it goes by many different names including: payment cover, payment protection cover, loan care, and accident and sickness cover/insurance.

In principle, payment protection insurance (PPI) should be a good financial product however the issues with PPI and not with the product itself but rather with the way the product has been marketed to British society, by the major financial corporations and providers of loans, mortgages, store cards, and credit cards.

So what is the problem with PPI?

The problem with PPI and the way that it has been marketed to British society is a misleading way in which it has been forced upon the British public.

Most of the major banks and many of the major mortgage providers and long providers and providers of credit cards have all sold payment protection insurance in a way which is either made the products seem as though it is obligatory or in a way which was less than transparent.

Not only that but in certain cases people have been tricked to thinking they need this insurance by the unscrupulous sales methods of many of the major financial corporations, meaning that there have been a huge amounts of people who have been misled into taking out insurance that they did not need in the beginning.

So what are the knock-on effects of this?

This means that millions of people across the United Kingdom have been mis-sold, misled, and basically “ripped off”, for over a decade.

The amount of money that was taken from customers all over the United Kingdom under false pretences is thought to be in the billions, with millions of people all across the nation all unknowingly having these policies attached to loan agreements, credit cards, and all manner of long-term financial agreements.

People of the UK are owed billions collectively, in compensation for the actions mentioned above.

What can British residents do about the problem?

You can write a letter to the financial ombudsman detailing how you feel you have been mis-sold payment protection insurance expressing your dissatisfaction and discontent, also mistrust of the major financial corporations working in and around the UK.

You can also write to the banks detailing how you wish to make a complaint about what’s happened, and their actions and asking for a refund on any policies that you feel were mis-sold by them.

All you can make contact with a PPI claims provider, who can handle your claim on your behalf if you choose not to take this up by yourself.

Most people think about a new home long before they actually get ready to head down to the mortgage officer. However, the truth is that you must make sure that you’re going to get the finer details beyond just the loan. If you buy a home, you’re going to have to get good home insurance. This isn’t just structural insurance, where the home can be rebuilt through the insurance proceeds. You must make sure that you’re also thinking about the contents of the home. If you were to pull out your clipboard and take a real inventory of your home, would you be able to put a value on everything you own? The worst can happen without us being ready for it. A fire could wipe out a family in mere minutes — are they going to be able to rebuild after such a thing?

If they have insurance, the answer is definitely yes. Most insurance policies will be a combined policy to cover both the house as well as everything inside. Do make sure that you’re taking good inventory of everything that you own. You don’t want to just go with the stuff that’s going to be cheap to replace. You have to think about how much it would cost you in today’s money, even if it has been years since you updated some things. That’s the best way to ensure that you really get to move on, rather than be held back.

Home insurance is actually a lot cheaper than you may have realized. The reason behind this is because you can qualify for different little discounts. Remember that the world of insurance is all about risk. So if you aren’t presenting yourself like a massive risk to the insurance company, then you will get better discounts. Having construction with fireproofing and more modern features leads to discounts. Home security systems may earn you more money taken off your premiums. Offering to pay a year’s worth of premiums in advance can yield more savings. Not filing claims for a while can also be a big money saver. The more low risk you appear to the company, the more likely it is that they’ll take care of things for you and give you some savings along the way. [Read more…] about New Home In Your Future – Get the Best Insurance Possible

Are you thinking about buying your first home? It might not be a “saucy” type of subject, but you do need to step back and think of ways to protect your home from the unexpected. Home insurance does just that, but who really wants to stop and think about insurance, anyway? After all, isn’t that just stuff to cover you in situations that aren’t likely to happen?

Every homeowner thinks that they’re going to be exempt from a crisis happening, only to find that this is not the case at all. You’re much better off thinking about trying to get everything sorted out naturally from the beginning. Home insurance does that for you.

Naturally, you don’t want the first policy that you see, or the first one advertised to you. You want to actually get a home insurance quote to study later.

There are some benefits to getting at least one home insurance quote. For starters, it gives you the power to really see not only the price, but also what is included. In the world of insurance, it’s all about the specifics. You might think that a certain event is actually covered, only to find that it really isn’t. That’s the type of thing that can really slow you down and hold you back. What if the worst happens and you’re not covered? That could mean thousands and thousands of pounds down the drain — not a scenario that any homeowner looks forward to at all.

What you will ultimately want is to stop and think about getting home insurance that’s affordable. If you have a mortgage, the mortgage company wants you to get good insurance as well. It means that you’re not going to be under-protected in case something happens along the way. The mortgage company wants to protect its side of the investment while you are still paying off the house.

You can get a good deal on insurance by using a home insurance calculator. This allows you to see where your payments might be, based on the level of coverage that you’re opting for.

The subject of how much coverage to actually apply for depends on a wide variety of factors. If you’re in doubt of how much you really need to get, talking to the insurance agent of your choice will really clear things up for you. Check it out today!

Travel insurance is something that’s recommended by just about every travel guide around — for good reason. It can cost UK consumers a pretty penny to handle emergencies and last minute issues while traveling. So it makes sense to take out policies that theoretically cover them while they’re traveling around the country. Is this something that really has to become a hot button issue?

Some people argue that it definitely does — you must make sure that you are focusing heavily on protecting yourself. If you have no coverage that truly protects you, then you might as well skip the travel insurance. Yet that idea is a bit extreme. It’s just about reading your insurance company’s policy a bit more closely than just looking at the price. The fine print can hold pitfalls that might not be noticeable. So, this guide is all about uncovering some of the most common pitfalls in travel insurance.

First and foremost, you want to make sure that your policy covers children even when they don’t live with you. There are quite a few policies offered by companies that have excluded children that live with another parent for all or part of the year.

Another child-related exclusion would be children who are traveling on their own. You will have to make sure that you understand what “independent” means as well. Some insurers consider children traveling independently even if you were to put them on a plane and the other parent will collect them the moment they get off the plane. A responsible adult often has to accompany the child for the whole journey — even if they are more than old enough to travel on their own.

Winter sports aren’t always covered by travel insurance plans — you need to make sure that you’re seeking out ski cover specifically, which would cover your winter sport rush. General travel insurance will usually have this as an exclusion. Does it matter? Absolutely — if you go with a general policy and get injured, you could be on the hook for all of those payments — not a great idea.

It’s better to ensure that you have things covered by looking directly at the insurance fine print no matter what. A few more moments of looking over things can save you literally thousands of pounds of worry down the road. Exclusions matter, you know!

Increasing numbers of landlords are finding themselves having to address the move towards a greener, more sustainable future – especially with an impending energy crisis on the horizon. Many are adopting a hands-on approach to the issue, while others are discovering that more tenants are becoming savvy when it comes to energy-efficiency.

Is this a gradual shift, or should landlords go all-out with green initiatives straight away? In the future, tighter laws will mean that landlords won’t have much of a choice; but right now, there is a degree of leeway. Let’s have a look at some of the positives and negatives of becoming a green landlord:

The positives

1. Government grants

Going green doesn’t have to be costly – from the autumn, landlords will be entitled to financial help from the government under the terms of its Green Deal. If tenants ask for energy-efficiency improvements, these may be covered by the scheme.

Landlords are being encouraged to look at it from two standpoints – firstly, it’s an opportunity for them to demonstrate self-regulation standards. Secondly, they’re likely to reduce future maintenance bills and make their properties more comfortable for tenants.

2. Attract more tenants

Landlords who offer tenants lower energy bills are sure to attract more prospective tenants. This may even allow to some to increase their rental income, which will help offset the cost of their residential property insurance policy.

3. Comply with future laws

Laws will take effect to ensure that UK meets its promise of using less energy and reducing its carbon emissions. Landlords can get ahead of the game by taking action now instead of waiting months or years. While this is likely to burn an initial hole in the wallet, the long-term effects – both financial and environmental – are indisputable.

The negatives

1. Cost of insurance policies

Expensive, high-tech equipment such as solar panels may push up the cost of domestic or business buildings insurance. Make sure you don’t get stung by high premiums by using specialists to help you secure the best landlords insurance deal.

2. Installation costs

Solar panels, improved insulation and draft excluders can cost landlords a lot to install. But while the upfront cost will be large, there is help in the form of the Green Deal – although landlords will have to wait until 2016 and 2018 for it to take full effect in two stages. Further, if the tenants’ energy bills are wrapped up in their rent, landlords can look forward to cheaper energy bills in the months and years ahead.

3. Installation time

The cost of installation is one thing; the time new equipment takes to be fitted is another. Some upgrades – low-flush toilets, for example – can make a property uninhabitable while they’re being installed, a process that itself may take some time. While there aren’t tenants in the property, landlords won’t be making any money – but as with all residential improvements, it pays to look at the bigger picture and the associated long-term benefits.

Are you trying to look into greater insurance coverage? You’re actually not alone at all. There are quite a few residents in the UK that are thinking about all of their insurance options. In a perfect world, we would really all be covered by the type of insurance offered through the government. That’s just the basics. If you really want to take charge of your own health, you will provably have to turn to private insurance at least once or twice. That’s going to be the real way to make sure that you and your family have the health options that really matter. Does that mean that all insurance options are created equal? Not at all. If you really want to make sure that you have things taken care of, you’re going to need to make sure that you focus on getting the best dental coverage that you can possibly get.

It’s important to make sure that you don’t settle for the first company that’s trying to sell you dental cover. You will definitely want to make sure that you dig into the actual offer itself. Are they just covering routine care? What about heavier dental work like crowns? What about ongoing maintenance? What if you need to see a specialist within the dentistry field?

These are just some basic points that nay insurance agent will be able to clarify for you. You should also make sure that you think carefully when any quote asks you to list your professions. Everything about insurance is about risk. So if you’re active or you work an active field where there is a risk of injury, you might be paying a lot more for that dental coverage than you think.

You also have to think about your lifestyle. Some people find that dental cover isn’t really worth their time because they can just wait for the NHS doctors to tend to them. That might work for you, but if you’re tired of being on the waiting list, you might find that private dental cover is actually the better way to go.

We honestly feel that it’s going to be all about what you want to get out of the situation. If you want to cut the lines and actually get your dental issues taken care of properly, then this just might be the best thing that you can go for yourself. On the other hand, if you think that you will be better off using the government scheme for healthcare, then you should do that.

Like any other type of insurance, you will only be covered when you make your premiums. If you get behind in your premiums, you’re not going to be able to move forward appropriately. You just have to make sure that you’re thinking about all of your different options when you really need to get some kind of dental cover.

As always, you will want to make sure that the dentist that you are thinking about seeing for your teeth will be able to actually take your insurance. Every dentist has different insurers that they will accept. Keep that in mind when you’re scheduling. You will also want to make sure that you alert them if there’s any cancellation or a need to reschedule — otherwise you will be billed out of pocket for the appointment and the insurer will often not cover this.

These are just a few things that you need to think about when it’s time to really get into the guts of getting dental cover in the UK — check it out for yourself today!

Payment protection insurance is something that is offered to people who take out loans. It means that if they are unwell, die or lose their job or in some other way cannot make their monthly repayments, the insurance will pay out and do it for them.

Payment protection insurance has had a very bad press lately. However, it is not necessarily a bad thing. The reason that people have a problem with it, is when it is missold. This means that they have it included in a loan without them realising it or perhaps without them having the option not to have it. This is when things are not good.

However, it can be a useful thing to have. If there is only one breadwinner in the family and they lose their job or are unable to work, then it will enable you to continue the loan repayments. Some people like the idea of having it and enjoy the peace of mind that it gives to them. They feel that there family is protected and that they will not have so many financial worries if they are in the situation where they are unable to make their loan repayments.

Other people are happy not having the insurance. Perhaps because they are confident with their financial situation, they have savings in case of a job loss or illness or perhaps there is more than one bread winner in the family.

It is worth being open minded about this insurance and decide whether you think it is sensible to take it out in your situation. It can be quite expensive, but it can give you a lot of peace of mind and really help in difficult situations. It is best to calculate how much it will cost you over the long term, to see whether you think it is something that will be good for you.

Do not let someone sell it to you, ask questions and learn about it but make sure that the decision as to whether or not you want it, is yours. Salesmen are wary of overselling now anyway, with the amount of complaints they have had in recent times for this. Therefore, they should not be too pushy and should explain things clearly to you. Just do not be afraid to ask everything that you need to know so that you are fully informed before you sign up to anything, never be left wondering whether it really is the right thing for you.

When you own a property, it is normal to get buildings insurance for it. If you have a mortgage, you lender will insist that you have this cover. This is because they partly own the property and want to make sure that it is not at risk of losing all of its value. If the house burns to the ground, for example, they will want to make sure that there is insurance in place so that the funds are available to rebuild it again.

As a home owner, even if you do not have a mortgage, you may still want to make sure that your property is protected. The insurance will not only cover you for fire, but also for any other damage caused to your house. There will be exceptions and you may find it harder to get insurance if you live near a river that is likely to flood or cause subsidence.

If you are renting or own a property, you might want to consider insuring the contents. This means that if someone breaks in to the property and takes things, then you should be able to claim for them. If you have a fire or flood then you might be able to make a claim as well. Also if you accidentally damage any valuable items, you may be able to have the repaired or replaced, although this will all depend on the exact terms of your insurance.

Some people do feel that insurance is a waste of money, in that they are paying money each year or each month and they are not getting anything for that money. However, you are getting that peace of mind and if you had to find the money to rebuild the property then it is very unlikely that you would be able to do so. Also replacing all of your possessions at once, which you might have to do, should you have a fire, could be extremely expensive too.

If you do not own your home and have very few possession, then having buildings and contents insurance would probably not be worthwhile. However, once you start building up some valuable possessions and you won your own home, you will need to consider insuring it. The larger the property and the more expensive your possessions, the more expensive your insurance will be. However, if you search around, you should be able to find a good price.